Access Bank’s Inaugural Africa Trade Conference: Bridging the Trade Finance Gap and Empowering African Businesses
Access Bank Plc is poised to host its first-ever Africa Trade Conference, a landmark event aimed at addressing the significant trade finance gap hindering the continent’s economic growth. Scheduled for March in Cape Town, South Africa, the conference, themed "Empowering Africa Through Trade, Innovation, and Sustainable Growth," seeks to bring together key stakeholders to explore innovative solutions, promote sustainable trade practices, and facilitate the integration of African economies into global value chains. With Africa’s trade finance deficit estimated at a staggering $81 billion annually, the conference serves as a critical platform for fostering collaboration and driving transformative change in the African trade landscape.
The conference’s core objective is to dismantle the systemic barriers impeding trade, particularly for small and medium-sized enterprises (SMEs) and domestic firms. These obstacles encompass limited access to finance, cumbersome regulatory frameworks, inadequate infrastructure, and information asymmetry. By convening leading experts, policymakers, and business leaders, the conference aims to identify and address these challenges, creating an enabling environment for African businesses to thrive and compete on a global scale. Access Bank’s extensive network across 24 countries, including 15 in Africa, positions it as a strategic facilitator of inter and intra-African trade, uniquely equipped to navigate the complexities of trade finance and promote inclusive growth across the continent.
Roosevelt Ogbonna, Group Managing Director/Chief Executive Officer of Access Bank Plc, emphasizes the conference’s significance in unlocking Africa’s trade potential. He envisions the event as a catalyst for dialogue, innovation, and the development of actionable solutions that will empower African businesses to connect with and prosper within the global economy. This sentiment is echoed by Seyi Kumapayi, Executive Director, African Subsidiaries, Access Bank, who highlights the conference’s broader vision of not only tackling trade challenges but also championing Africa’s vast opportunities. Through strategic partnerships and tailored financial solutions anchored in sustainability, Access Bank aims to pave the way for African businesses to ascend to the global stage.
The Africa Trade Conference will feature a distinguished lineup of speakers, including top executives from prominent international banks, development finance institutions, and industry leaders across Africa. These experts will share their insights and experiences, fostering a rich exchange of knowledge and best practices. The conference will also showcase the transformative potential of the African Continental Free Trade Area (AfCFTA), a groundbreaking initiative designed to reduce trade barriers, enhance infrastructure, and integrate African economies into global trade networks. By fostering regional integration, the AfCFTA promises to unlock significant economic opportunities and accelerate Africa’s development trajectory.
The conference’s agenda will delve into several critical themes shaping the continent’s economic future. These themes encompass the transformative role of digitization and innovation in global trade, strategies for overcoming trade barriers to enhance market access, and the adoption of sustainable trade practices and innovative financing models. These discussions will provide a comprehensive roadmap for advancing Africa’s position in global commerce, fostering sustainable economic growth, and creating prosperity for all.
The Africa Trade Conference organized by Access Bank represents a pivotal moment in the evolution of African trade. By bringing together key stakeholders, fostering dialogue, and promoting innovative solutions, the conference aims to bridge the trade finance gap, empower African businesses, and unlock the continent’s immense economic potential. The conference’s focus on sustainability and inclusive growth underscores Access Bank’s commitment to building a prosperous future for Africa. The event promises to be a catalyst for transformative change, paving the way for a more integrated and dynamic African economy that fully participates in and benefits from global trade.
